Tintina Mines Limited announced that it expects to receive CAD 90.999999 million in funding from Sumitomo Corporation, Franco-Nevada Corporation and other investors.
Tintina Mines Limited announced a private placement to issue 91,176,470 Tranche A Subscription Receipts at an issue price of CAD 0.68 for the proceeds of CAD 61,999,999.6 and 42,647,058 Tranche B Subscription Receipts at an issue price of CAD 0.68 for the proceeds of CAD 28,999,999.44 on June 2, 2026. Transaction involves participation of Sumitomo Corporation Gignac family, Franco-Nevada Corporation and other investor. Targeted closing of Subscription Receipt issuance in mid-July of 2026, subject to the satisfaction of the Offering Conditions In consideration for its services, Canaccord will receive a cash finder's fee equal to 5% of the gross proceeds raised through Canaccord, subject to TSX Venture Exchange The gross proceeds of the Offering will be held in escrow by an independent, arm's-length Canadian trust company pending satisfaction of the Escrow Release Conditions. Upon satisfaction (or waiver, where permitted) of the Escrow Release Conditions, (A) each Tranche A Subscription Receipt will automatically convert into one unit comprising one Common Share, one-half of one First Warrant and one-half of one Second Warrant, and (B) each Tranche B Subscription Receipt will convert into one Common Share. All securities issued under the Offering will be subject to a statutory hold period of four months and one day from the date of issuance of the Subscription Receipts. The Offering is subject to several specific shareholder and regulatory approvals under Canadian securities laws and TSXV policies Closing of the Subscription Receipt issuance will be subject to customary conditions precedent, including the execution of definitive transaction documentation (including the Minority Acquisition Agreement) the receipt of approval from all creditors having oversight over or a security interest in, the 26.25% minority interest in ABR and the receipt of all necessary TSXV and other regulatory approvals.
On July 2, 2026, The company announced that for the acquisition of the minority interest is being finalized and anticipates it shall be signed by the closing of the offering which is scheduled to occur on July 9, 2026. In addition, an annual general and special meeting of the shareholders of company has been scheduled for August 21, 2026, in order to seek the shareholder approvals required to permit the company to complete the offering and the acquisition of the minority interest, as well as to attend to the general proceedings of an annual general shareholders meeting.
Sumitomo Corp is a Japan-based company engaged in diversified business activities in response to the diverse needs of its customers. The Company operates in nine segments. The Steel segment handles steel pipes and products. The Automotive segment trades vehicles, tires, and related items. The Transportation & Construction Systems segment deals with ships, aircraft, and construction machinery. The Infrastructure & Urban Development segment covers real estate, construction materials, logistics, insurance, and infrastructure. The Media & Digital segment provides digital solutions and telecom infrastructure. The Lifestyle segment includes retail, food, and healthcare business. The Mineral Resources segment engages in development, production, and trading of metals and derivatives. The Chemicals, Electronics & Agriculture segment handles plastics, chemicals, and agrochemicals. The Energy Transformation segment engages in infrastructure business.
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Tintina Mines Limited announced that it expects to receive CAD 90.999999 million in funding from Sumitomo Corporation, Franco-Nevada Corporation and other investors.